136 People Have Declared Gross Income More Than Rs 100 Crore In 2020-21: Government

136 People Have Declared Gross Income More Than Rs 100 Crore In 2020-21: Government

#People #Declared #Gross #Income #Crore #Government

136 people have declared their gross income more than Rs 100 crore in 2020-21: Government

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New Delhi:

Finance Minister Nirmala Sitharaman said on Tuesday that the number of persons who disclosed gross total income of Rs 100 crore or more was 136 in 2020-21, while the number of such people was 141 in 2019-20 and 77 in 2018-19. He gave this information to the Rajya Sabha in a written reply to a question. He said that the number of persons disclosing gross total income of more than Rs 100 crore (Rs one billion) in the income tax returns filed with the Income Tax Department during the last three assessment years was 136 in 2020-21.

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He was asked whether it is true that the number of billionaires in the country has seen an increase during the lockdown. In response, the Finance Minister said that as per the information available with the Central Board of Direct Taxes (CBDT), there is no legislative or administrative definition of the word trillionaire under direct taxes.

Lockdown made Indian billionaires 35% more rich, millions of jobs created: Oxfam

He said that since wealth tax has been abolished in April, 2016, CBTD no longer holds any information about the complete wealth of an individual taxpayer. He said that the official poverty estimates are based on surveys on household consumer expenditure conducted by the National Sample Survey Office (NSSO), Ministry of Statistical and Program Implementation. According to poverty estimates, the number of people living below the poverty line in India was estimated at 27 crore (21.9 percent) in 2011-12, following the current Tendulkar Committee methodology.

The Finance Minister said that the Government has launched various schemes with emphasis on ‘Sabka Saath, Sabka Vikas, Sabka Vishwas’ which aim to improve the quality of life of the people and lead to faster inclusive growth.

(This news has not been edited by NayaTez team. It has been published directly from Syndicate feed.)


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